Columbus Macro LLC Increases Stake in AbbVie Inc. (NYSE:ABBV)

Columbus Macro LLC lifted its position in AbbVie Inc. (NYSE:ABBV) by 221.0% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 42,881 shares of the company’s stock after acquiring an additional 29,524 shares during the period. AbbVie comprises about 1.1% of Columbus Macro LLC’s investment portfolio, making the stock its 21st biggest holding. Columbus Macro LLC’s holdings in AbbVie were worth $7,620,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Alliance Wealth Advisors LLC UT lifted its holdings in AbbVie by 2.7% during the 4th quarter. Alliance Wealth Advisors LLC UT now owns 18,040 shares of the company’s stock valued at $3,206,000 after buying an additional 480 shares in the last quarter. Vantage Point Financial LLC bought a new stake in shares of AbbVie in the 4th quarter valued at about $205,000. Fourpath Capital Management LLC grew its stake in AbbVie by 13.4% during the 4th quarter. Fourpath Capital Management LLC now owns 7,426 shares of the company’s stock worth $1,320,000 after buying an additional 876 shares during the last quarter. Optas LLC raised its holdings in shares of AbbVie by 6.8% in the fourth quarter. Optas LLC now owns 4,824 shares of the company’s stock worth $857,000 after buying an additional 309 shares during the last quarter. Finally, Holistic Planning LLC boosted its holdings in shares of AbbVie by 27.6% in the 4th quarter. Holistic Planning LLC now owns 1,354 shares of the company’s stock valued at $241,000 after acquiring an additional 293 shares during the last quarter. Hedge funds and other institutional investors own 70.23% of the company’s stock.

Insider Activity

In related news, SVP Kevin K. Buckbee sold 1,800 shares of the stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $172.24, for a total value of $310,032.00. Following the completion of the transaction, the senior vice president now owns 6,983 shares of the company’s stock, valued at approximately $1,202,751.92. This trade represents a 20.49 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.25% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on ABBV. JPMorgan Chase & Co. cut their price objective on AbbVie from $210.00 to $200.00 and set an “overweight” rating for the company in a research report on Wednesday, November 13th. Wells Fargo & Company boosted their price objective on AbbVie from $195.00 to $210.00 and gave the stock an “overweight” rating in a research note on Monday. Daiwa America downgraded shares of AbbVie from a “strong-buy” rating to a “hold” rating in a research report on Thursday, December 5th. Barclays lifted their price objective on AbbVie from $200.00 to $212.00 and gave the company an “overweight” rating in a research report on Monday, October 7th. Finally, Daiwa Capital Markets downgraded shares of AbbVie from an “outperform” rating to a “neutral” rating and set a $180.00 price target for the company. in a report on Thursday, December 5th. Five investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $208.35.

AbbVie Price Performance

NYSE:ABBV opened at $190.20 on Tuesday. The firm has a market cap of $336.12 billion, a PE ratio of 79.25, a price-to-earnings-growth ratio of 1.84 and a beta of 0.58. AbbVie Inc. has a 12 month low of $153.58 and a 12 month high of $207.32. The company has a quick ratio of 0.54, a current ratio of 0.65 and a debt-to-equity ratio of 9.64. The company’s 50-day moving average price is $176.57 and its two-hundred day moving average price is $185.13.

AbbVie (NYSE:ABBV) last released its quarterly earnings results on Friday, January 31st. The company reported $2.16 EPS for the quarter, missing analysts’ consensus estimates of $2.98 by ($0.82). AbbVie had a return on equity of 257.91% and a net margin of 7.59%. During the same quarter in the prior year, the business earned $2.79 EPS. On average, equities analysts anticipate that AbbVie Inc. will post 12.26 EPS for the current fiscal year.

AbbVie Company Profile

AbbVie Inc discovers, develops, manufactures, and sells pharmaceuticals worldwide. The company offers Humira, an injection for autoimmune and intestinal Behçet's diseases, and pyoderma gangrenosum; Skyrizi to treat moderate to severe plaque psoriasis, psoriatic disease, and Crohn's disease; Rinvoq to treat rheumatoid and psoriatic arthritis, ankylosing spondylitis, atopic dermatitis, axial spondyloarthropathy, ulcerative colitis, and Crohn's disease; Imbruvica for the treatment of adult patients with blood cancers; Epkinly to treat lymphoma; Elahere to treat cancer; and Venclexta/Venclyxto to treat blood cancers.